SEC Filing Summary: Hilltop Holdings Inc. (Form 13F)
Business Context and Reporting Period
This filing is a Form 13F Information Table submitted by Hilltop Holdings Inc. to the U.S. Securities and Exchange Commission. The report details the company's holdings of equity securities as of the reporting period ending June 30, 2021. As a registered investment adviser, Hilltop Holdings is required to disclose its long positions in U.S. equities.
Key Financial Metrics and Portfolio Composition
The filing provides a granular list of securities held but does not aggregate total portfolio value, revenue, profit, or cash flow for Hilltop Holdings Inc. itself. The data reflects the following portfolio characteristics:
- Asset Class: The portfolio consists primarily of common stocks, exchange-traded funds (ETFs), and preferred securities.
- Top Holdings by Value: Significant positions include Apple Inc. (approx. $24.5M), Amazon.com Inc. (approx. $12.3M), Microsoft Corp. (approx. $14.1M), and Alphabet Inc. (combined classes approx. $9.3M).
- ETF Exposure: The portfolio holds substantial positions in various ETFs, including Global X Uranium (approx. $4.7M), SPDR Portfolio Short Term Treasury (approx. $13.7M), and VanEck Vectors BDC Income ETF (approx. $3.3M).
- Debt and Liquidity: The filing does not disclose Hilltop Holdings' corporate debt levels, liquidity ratios, or cash flow statements.
Material Changes and Voting Authority
The filing distinguishes between voting authority held Solely, Shared, or None. Many positions show "Shared" voting authority, indicating the firm manages these assets on behalf of clients or in conjunction with other managers. The table lists specific share counts and values for each issuer, allowing for the identification of new positions or changes in size compared to prior quarters, though a direct comparative table is not provided in this text.
Guidance, Outlook, and Risks
Management Commentary: Form 13F filings are statutory disclosures of holdings and do not contain management commentary, forward-looking guidance, or strategic outlooks.
Risks and Contingencies: The filing includes a standard disclaimer stating that the SEC has not reviewed the information for accuracy or completeness. The primary risk disclosed is the inherent market risk associated with the specific equity and ETF positions listed.
Key Facts for Investor Verification
- Portfolio Concentration: Verify the concentration risk in top holdings such as Apple, Amazon, and Microsoft, which represent significant portions of the disclosed equity value.
- Client vs. Proprietary: Determine which holdings are proprietary to Hilltop Holdings versus those managed for external clients, as the filing aggregates these under the firm's name.
- ETF Strategy: Review the specific thematic ETFs held (e.g., Uranium, Gold Miners, BDC Income) to understand the firm's sector-specific risk exposure.
- Voting Rights: Note the distinction between "Sole" and "Shared" voting authority to assess the firm's direct control over corporate governance for specific issuers.